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FOX Business
Aug 6, 2013 1:00pm EDT
is the story with chicago? truly as bad as detroit or heading in that direction? >> economically not as bad a viable global city but their budget is a mess. $3 billion in taxes they collect, this year is the need to a $415 million for pensions and that is going to $1 billion in a year. this release the projection, that would be the third tax collection going in to pensions. this is something the state is mandating and they don't know how they can pay that. lori: you mentioned chicago economically in better shape. look at the baseball game where all those people to do a rod, more about that this afternoon but the underlying economy of chicago seems to have some growth potential. >> the economy there is okay and. nobody is really flying in this economy but here is the point, has not been economically declining of the way detroit is but their pension obligations are, their pension system is in worse shape than detroit's, detroit's system is considered an argument how well funded it is but they have four pension systems in chicago, one of them is only 25% funded and the other one is only 38% fu
FOX Business
Aug 5, 2013 1:00pm EDT
games in the ongoing investigation, and among those, texas rangers right fielder cruz, detroit shortstop, and still no word on yankee's star alex rodriguez. adam: embassies authorized to open by the state department after they were closed sunday because of a threat from al-qaeda. nineteen posts, however, remain closed as a result of what the state department calls an exercise of caution. back in the united states, no suggestion that new york city faces a direct threat. the nypd made no changes, even as the department of homeland security beefs up its presence at airports and train stations. fox news middle east and terrorism analyst joining us with the latest development. i got to let you know, i'm going to bring something into the discussion, you know, the price of oil is actually falling right now, indicating that at least investors don't seem as concerned as the u.s. government. is this a false alarm? i mean, we have members of congress saying it was a cred l -- credible threat. >> look, the financial world is always concerned about the financial root, the financial structures, so if
FOX Business
Aug 28, 2013 1:00pm EDT
-free municipal bond, but does detroit give you cause for concern? and other cities across the country that are in similar condition? >> well, i wouldn't touch the cities. you've got to do your homework. so, cities, whether it is harrisburg or detroit or stockton, california, they're are a number of cities you've got to get under the hood and look at the credits but if you look at the highest grade, quality tax-free bond today, they're out there with the yields between 4 and 5% and they're not city credits. they're not detroit's. when that analysis is done, at our present tax structure the taxable equivalent yield is about nine. where are you going to get nine in a liquid investment of very high credit quality? i don't see very much of it. so we shifted allocation to tax-free bond. ashley: very good. do your homework. always good advice. david kotok, thank you so much for joining us. we appreciate it. >> thank you. lori: let's take a specific look at the market because the gains thus far are evaporating slightly. lauren simonetti joins us from the floor of the stock exchange. you're wa
Search Results 0 to 2 of about 3